Text size Paramount + has about 62 million subscribers. Valerie Macon / AFP via Getty Images Older viewers love CBS, but I guess Warren Buffett did not just lose $ 2.6 billion on shares of network parent Paramount Global because he’s a big fan of NCIS: Hawaii. He may be betting that investors have failed … Read more
Text size Netflix was upgraded to Outperform from Neutral by Wedbush. Dreamstime Netflix ‘s The move to curb binge-watching has positioned it to exceed its second-quarter guidance, Wedbush analyst Michael Pachter said Monday as he upgraded his stock rating to Outperform. The media giant expected a loss of 2 million subscribers in the period April … Read more
Text size An AMC cash office. Jeenah Moon / Bloomberg The largest public pension in America filled a high-profile meme stock and technology stocks and cut down on a streaming giant before the stocks went on their latest dive. California’s government employee pension system bought more shares in the movie theater chain AMC Entertainment Holdings … Read more
Text size Disneyland Paris’ 30th anniversary celebrations on March 05, 2022. Getty Images Walt Disney will be the last of the major media and entertainment companies with large streaming operations to report this earnings season, and Wall Street appears to be expecting bad news. Category pioneer Netflix (ticker: NFLX) muddied the stream with its first-quarter … Read more
Film-production facilities are proliferating across the New York region, paying little heed to Netflix Inc.’s surprise announcement last month that it lost subscribers for the first time in more than a decade. Lucrative tax credits and years of growing demand for streaming content have fueled the growth of this industry in New York. Investors remain … Read more
Text size Tens of billions of investors’ capital has been vaporized inside some top tech hedge funds. It could be the quickest collapse of dollar value in hedge fund history. Dreamstime Warren Buffett once said, “You do not find out who’s been swimming naked until the tide goes out.” Well, the tide has gone out … Read more
Text size Some strategists see more pain ahead for global stocks even as they plan for better days. Dreamstime The hesitancy to buy this dip in global stocks is real. Whether it’s concern that the Federal Reserve is not going to save the day or the depth of the uncertainty looming overhead, several strategists see … Read more
Text size David Zaslav, President and CEO of Warner Bros. Discovery. Patrick T. Fallon / Bloomberg Warner Bros. Discovery stock has tumbled in the short time the company was formed from the merger of AT&T ‘s media business with Discovery. It was barely out of the gate when a woeful first-quarter report from Netflix unnerved … Read more
Text size Monthly active users rose 19% to 422 million. Gabby Jones / Bloomberg Spotify shares fell Wednesday despite the streaming platform reporting a sharp increase in users during the first quarter. Weaker-than-expected guidance appears to be the culprit. Shares of Spotify were down 6% to $ 103.76 on Wednesday. Spotify (ticker: SPOT ) said … Read more
Text size The Spotify website home screen on a smartphone. (Gabby Jones / Bloomberg) Spotify shares rose Wednesday after the streaming platform saw a sharp increase in users during the first quarter. Spotify (ticker: SPOT ) said monthly active users rose 19% in the quarter from a year earlier to 422 million. The number included … Read more